How much does it cost to start an Airbnb?

This is obviously the most expensive cost for a serviced accommodation property, as the property is going to be used as a fully functional house or apartment, you need to ensure all the right equipment and appliances are bought whilst also creating an inviting atmosphere for your property.

This is also the hardest cost to predict unless you have previous experience with doing it before. I know going into my first SA unit I was completely blind to what I needed it and just got stuff as I went along, which made the process very slow.

Having a complete thought out spreadsheet of every item you will need is essential to really know your numbers and therefore making informed decision regarding your investment.

Have a look at our expansive article that explains all the minor appliances and details you'll need for every SA unit. 

Click below to read.

Every property will be different due to size, layout, budget and so many more variables. The article above is the essential checklist but on top of those items you'll need to think about how you want the property to look and feel such as what colours to paint the walls, the quality of products you want to use.

So make sure to write down every single item, the more thorough the better. If you're struggling to think of every item, look on pinterest, look around your house, and note down furniture is used and where.

Below is (extremely) ball park figure for what it might cost depending on the property:

Studio: £1000-£3000

1 bedroom: £1500-£4000

2 bedroom: £2500-£7000

3 bedroom: £3000-£9000

4 bedroom: £5000-£13000

Again, these figures vary massively depending on what kind of spec you're going for, the size and layout of the property.

Software such as your channel manager, pricing software, etc will need to be paid in advance to ensure all bookings can be made. If you're using a management company this will usually be paid after the bookings come in.

Council tax - check you council tax band - varies massively for each property

Broadband - around £25-40 per month

TV License - £13.5 per month per month

Getting professional photography of the property is an absolute must. Professionals photos will cost around £100-250 depending on the photographer but unless you have real experience with property photography, leave it to a professional.

Insurance is absolutely necessary incase a worst case scenario. The insurance you need:

- Professional indemnity insurance

- Public liability insurance

If you are not using a management company it's also a good idea to be registered with a redress scheme such as The Property Ombudsman or The Property Redress Scheme. These give credibility to your company especially if you're just starting out and cost around £240 per year.

This is also dependant if you use a management company and what they offer. You'll need to ensure your property is providing essentails for your guests stay such as:

- Soap

- Shampoo

- Toilet paper

- Kitchen paper

- Body wash

- milk, coffee, tea, sugar

- and potentially more depending on your property

Below you can download a simple spreadsheet which includes the costs talked about above.

Click below to download (no email needed)